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Advance Energy ( (GB:BCE) ) has provided an announcement.
Beacon Energy plc has announced a strategic investment in LNEnergy Limited through a share purchase agreement with Reabold Resources plc. This transaction involves the acquisition of up to 100% of shares in a special purpose vehicle holding a 48% stake in LNEnergy. The investment focuses on the Colle Santo gas project in Italy, which is poised for development with a substantial 2P reserve base. The project is expected to achieve a final investment decision by mid-2026 and commence production in the second half of 2027. Beacon Energy plans to raise approximately £3.5 million to finance the project and anticipates becoming the largest shareholder in LNEnergy. This move aligns with Beacon’s growth strategy and positions the company in a region with significant long-term potential.
More about Advance Energy
Beacon Energy plc operates in the energy sector, focusing on strategic investments and growth opportunities within the hydrocarbon production industry. The company aims to build a self-funding business model to support organic growth and deliver significant value to its shareholders.
Average Trading Volume: 611,685,800
Technical Sentiment Signal: Sell
Current Market Cap: £722K
For detailed information about BCE stock, go to TipRanks’ Stock Analysis page.